Portugal has started to work through its golden visa backlog, but most investors are still waiting. On 7 October 2026, Minister of the Presidency António Leitão Amaro told parliament's Constitutional Affairs committee that the migration agency AIMA had about 46,000 pending applications for residence permits for investment activity (ARI), the official name of the golden visa.
According to CNN Portugal's report of the hearing, about 30,000 of those applicants have been given appointments and about 6,000 cases have been decided. That is roughly 13% of the queue, with the year three-quarters over.
The figures matter because the government had promised to clear the investor backlog in 2026. They show progress on scheduling, but a long road from appointment to decision for most files.
Key takeaways
- AIMA had about 46,000 pending golden visa (ARI) applications as of 7 October 2026, according to the minister.
- About 30,000 applicants have appointments, and about 6,000 cases have been decided, roughly 13% of the total.
- The government says AIMA's capacity has grown, with staff rising from 723 to 850, freeing resources for family reunification and investor files.
- In October 2025 the minister pledged to resolve most pending golden visa files in 2026, saying investors had been left until last for social equity reasons.
- A separate change to the nationality law has lengthened the path from residence to citizenship.
What the minister told parliament
The hearing was framed as the end of the 'first phase' of the government's migration policy. Leitão Amaro said AIMA had largely cleared the old 'expressions of interest' regularization queue, with only about 5,000 of 445,000 such cases still open. Of some 940,000 notifications in older pending processes, he said 98% had been resolved.
With that work done, the government says AIMA can turn to family reunification and golden visas. On family reunification, the minister cited 55,000 appointments in 2026 and 26,000 permits granted, compared with a historical average below 20,000 a year. He also announced a change at the top of the agency, with board member César Teixeira set to become AIMA's president.
On golden visas, the numbers were smaller. Scheduling an appointment is not the same as a decision. For most applicants, the appointment is the biometric and document step, after which the file still has to be assessed and approved, the issuance fee paid, and the card produced.
Why investor files waited
The backlog did not start with AIMA. Golden visa approvals had slowed under the former border agency SEF, which AIMA replaced in October 2023. During the debate on the 2026 budget in October 2025, Leitão Amaro said AIMA would resolve the pending golden visa files the following year, according to RTP.
He explained that investor files had been left for last for reasons of social equity. The government, he said, had first prioritized the most vulnerable applicants, then citizens of Portuguese-speaking countries and people with expired cards. He also linked the plan to AIMA's budget, which counted on fee income from golden visa approvals in 2026.
With under three months of the year left, a decided share of about 13% puts that pledge under pressure. The government has not published a new target date.
The citizenship clock
The backlog matters for more than residence. Many golden visa investors chose Portugal partly for the prospect of citizenship. Under the old rules, naturalization was possible after five years of legal residence. Portugal's revised nationality law, promulgated in 2026, has lengthened that period for many applicants, which pushes the prospect of citizenship further out for investors still waiting on a first permit.
At a May 2026 hearing, reported by Observador, Leitão Amaro accused some lawyers and consultants of having given clients false expectations that a golden visa came with a passport. Some ARI applicants have gone to court over the longer route to nationality. Our comparison of residency by investment and citizenship by investment explains why the two products are not interchangeable.
What the program looks like now
Portugal's golden visa still exists, but in a narrower form. Since October 2023, buying real estate and transferring capital no longer qualify. The remaining routes include subscriptions to qualifying investment funds, company capital with job creation, research funding and support for culture and heritage.
For people looking at Portugal today, the backlog is part of a wider pattern. Processing times have grown across many investment migration programs, as our report on longer investment migration processing times shows. Some people who want to live in Portugal rather than invest look at other routes, such as the Portugal D8 digital nomad visa, which carries its own income tests and presence expectations. Tax is a separate question again: Portugal's IFICI regime has its own eligibility rules.
What applicants can expect
The minister's figures suggest the bottleneck has moved from scheduling to decisions. Applicants with appointments may still wait months for an outcome, and those without appointments face a longer wait. Investors in this position often ask their Portuguese lawyer about the status of their file, whether documents such as criminal records and insurance need updating before the appointment, and what options exist if deadlines pass.
AIMA has not published a public timetable for clearing the remaining files. The next useful signal will be whether the government gives parliament updated numbers before the end of 2026.
Frequently asked questions
How many Portugal golden visa applications are pending?
About 46,000 as of 7 October 2026, according to Minister of the Presidency António Leitão Amaro. Of these, about 30,000 had appointments and about 6,000 had been decided.
How long does a Portugal golden visa take in 2026?
There is no official processing time that reflects current conditions. Many applicants have waited years, and the government's own figures show most pending files were still undecided in October 2026.
Can you still get a Portugal golden visa through real estate?
No. Real estate purchases stopped qualifying in October 2023. The remaining routes include fund subscriptions, company investment with job creation, research and cultural contributions.
Important: This article is general information, not tax, legal or financial advice. Rules change often and depend on your personal circumstances. Speak with a qualified professional in each relevant country before you act.